Coverzones launches an online marketplace for business insurance

This week a new company with a unique proposition for small to medium-sized businesses has appeared in the highly competitive business insurance sector. Coverzones has responded to significant demand from UK companies by launching a new online business insurance service allowing customers to compare quotes from the UK's top commercial insurers. Unlike normal aggregator sites though, customers can also buy the insurance they need without leaving the website.

Research commissioned by Coverzones revealed that nearly half of the UK's 4.5million small to medium-sized businesses (SME's) would prefer to arrange their small business insurance online. According to the same research findings though, only 4% of them actually succeed in doing so.

In response to this demand Coverzones has launched a new online marketplace at www.coverzones.com to provide quick and easy access to a wide range of business insurance products from the UK's major commercial insurance companies.

The new service provides SME's with an online facility to rapidly identify the insurance needs for their particular business, research the market, compare products and prices and then make their purchase, all without leaving the site.

Simon Ball, chief executive of Coverzones said, "There is no reason why the business insurance market cannot emulate the success of the personal lines market in trading online. Coverzones will play a significant role in transforming the business insurance market for consumers by providing an easy to use, online marketplace offering real choice, coupled with the lower costs associated with buying direct and online".

The company has taken a number of steps to simplify the purchase process including the development of a plain English, online assessment tool to help customers identify the insurance that they need. Coverzones have rationalised the questions that insurance companies ask to ensure that only the information needed to provide a tailor-made quote is collected.

Customers are able to get an unlimited number of free online quotations and store them in their own secure online account facility called MyCoverzones. Every customer can open a MyCoverzones account free of charge and it allows them to save their quotes and purchased policy documentation online. A MyCoverzones account allows customers to generate new quotes or review and make changes to their existing policies all in one place.

Steve Sherlock, chief marketing officer at Coverzones comments: "Coverzones offer a new and unique service for SME's. We are focussed on simplifying the process of finding and buying business insurance so business consumers can be free and confident to arrange their business insurance independently".

Coverzones is working in partnership with many of the UK's major business insurance companies, as well as commercial insurance specialists. The business insurance products available from launch are provided by MMA, Groupama, HCC, Ambient and Flatfish. New product launches this summer will be supported by major brands such as Allianz, AIG, Hiscox, Brit and Sagicor.